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Umirzak Shukeyev meets with young Samruk-Kazyna and portfolio company employees

XX November 2017, Astana. Umirzak Shukeyev, CEO of Samruk-Kazyna JSC (“the Fund”), met with young line managers and production workers at the Youth Expert Advisory Council (“the Council”) held by Samruk-Kazyna.

In his welcoming speech, Umirzak Shukeyev commented: "Nearly a third of the employees of the Fund and its portfolio companies are young people aged from 25-34. Among the great strengths of these employees are their great optimism, their strong desire for development and their openness to new growth opportunities. It is encouraging to hear that, according to our latest survey results, 90% of our young employees are ready to make significant efforts to boost performance at their company." Mr. Shukeyev also highlighted that the young professionals at the Fund’s portfolio companies are involved in implementing technologically sophisticated production projects, such as the introduction of digital mines.

The meeting was held at the Tau-Ken Altyn refinery, which was launched in November 2013 on the initiative of the President of the Republic of Kazakhstan. In the three years and ten months since the opening of the refinery, the enterprise has produced and sold 44 tonnes of gold, making a profit of more than KZT 4 billion. The company plans to manufacture stamped measuring ingots, to receive the "Good Delivery" quality certification and to develop its own jewellery production.

The Council participants also discussed the development of the petrochemicals industry in Kazakhstan. The World Bank estimates the value of the world petrochemical market at USD 1 trillion. Petrochemicals have a strong multiplier effect on related industries. For example, one job in the petrochemical industry creates up to 7.2 jobs in related industries, while USD 1 invested in petrochemicals creates USD 2.3 for a country's economy. According to Gabit Zakariya, CEO of KPI Inc. LLP, the construction of the first phase of the Integrated Gas and Chemical Complex is expected to commence this month in the National Industrial Petrochemical Technopark Special Economic Zone in Atyrau. The cost of this project, which will produce polypropylene, is estimated at USD 2.6 billion. The project is set to be implemented over a period of 42 months. Polypropylene is used in the manufacturing process of electronics and electrical equipment, building materials, mechanical engineering, medicine and other industries.

Samruk-Kazyna’s management team meets with young leaders from the Fund’s portfolio companies on a regular basis. The Fund's Youth Expert Advisory Council is a platform for developing internal and expert communications, and for getting staff involved in the implementation of strategic projects.




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